Abneesh Roy foresees slight expansion and even EBITDA margin growth in Q4 . Among agri imputs, while tea has corrected, cocoa, coffee remain concerns. Most of the raw materials like crude oil, vinyl acetate monomer, copra, etc, are largely range bound. Top picks in consumer space in market include United Breweries, Tata Consumer, Godrej Consumer, Pidilite. Colgate valuation is comfortably low. HUL, ITC underweight.
